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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (39082)	4/11/1998 1:34:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Jerry, Just took a look at the charts on the SOX. Per my short term technicals, which is based on daily charts, the SOX is a CLASS BUY and could pop up alittle, as early as Monday. However, when I take a longer outlook using the weekly charts, this puppy is sick. Per my technicals, they are in the middle per the weekly charts meaning it can go either way. I also noticed by the weekly charts that SOX is forming a triangle with the apex in the 285-290 range, right where it is now. Triangle patterns are normally a sign that the stock is waiting for news, and once the news comes out then it will surge in the direction of the news. So technically, this falls right in line with your thoughts of the INTC earnings/news coming out this week. The INTC news is also coming at the same time that the technicals say that the market should pullback some, so if the INTC news is bad it could intensify the selloff, and if good could minimize the selloff. Lets put it this way, its not the best time to hold CALLS on the SOX or INTC right now. Seeya